U.S. mortgage applications continued to rise last week, boosted by strong refinancing demand, industry data showed Wednesday. However, unusually low interest rates failed to produce much demand for home purchase applications, signaling weakness in the housing market.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, rose 4.1 percent in the week ended August 12.
Refinancing rose 8 percent to its highest in nine months, but loan requests for home purchases dropped 9.1 percent.
Fixed 30-year mortgage rates averaged 4.32 percent, down from 4.37 percent the week before.
Refinancing made up 78.8 percent of total applications, compared to 75.6 percent the week before.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.